1,892 Shares in Adobe Inc. (NASDAQ:ADBE) Bought by Pines Wealth Management LLC

Pines Wealth Management LLC bought a new stake in Adobe Inc. (NASDAQ:ADBE) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,892 shares of the software company’s stock, valued at approximately $768,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. WealthPLAN Partners LLC grew its holdings in Adobe by 20.1% during the second quarter. WealthPLAN Partners LLC now owns 5,395 shares of the software company’s stock valued at $2,997,000 after purchasing an additional 903 shares during the period. Lmcg Investments LLC boosted its position in shares of Adobe by 8.5% during the second quarter. Lmcg Investments LLC now owns 23,822 shares of the software company’s stock worth $13,234,000 after purchasing an additional 1,860 shares in the last quarter. Excalibur Management Corp bought a new position in shares of Adobe during the second quarter worth $344,000. Conscious Wealth Investments LLC grew its holdings in shares of Adobe by 1.0% in the 2nd quarter. Conscious Wealth Investments LLC now owns 4,603 shares of the software company’s stock valued at $2,514,000 after buying an additional 44 shares during the period. Finally, Stock Yards Bank & Trust Co. increased its position in shares of Adobe by 9.7% in the 2nd quarter. Stock Yards Bank & Trust Co. now owns 41,602 shares of the software company’s stock valued at $23,112,000 after buying an additional 3,670 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Adobe Price Performance

NASDAQ:ADBE opened at $412.71 on Wednesday. The stock has a market capitalization of $181.67 billion, a PE ratio of 33.28, a P/E/G ratio of 2.51 and a beta of 1.31. Adobe Inc. has a 1-year low of $403.75 and a 1-year high of $638.25. The firm has a fifty day simple moving average of $481.07 and a 200 day simple moving average of $515.02. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. The company had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.22%. The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the firm posted $3.52 EPS. On average, research analysts expect that Adobe Inc. will post 16.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ADBE has been the topic of several recent analyst reports. DA Davidson reduced their target price on Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. TD Cowen cut Adobe from a “buy” rating to a “hold” rating and cut their price objective for the company from $625.00 to $550.00 in a report on Thursday, December 12th. Wells Fargo & Company lowered their target price on Adobe from $700.00 to $640.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. StockNews.com raised shares of Adobe from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 18th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $475.00 price objective (down previously from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $575.85.

Insider Buying and Selling

In other Adobe news, Director Amy Banse sold 606 shares of Adobe stock in a transaction on Friday, December 6th. The shares were sold at an average price of $550.00, for a total transaction of $333,300.00. Following the completion of the transaction, the director now directly owns 32,929 shares of the company’s stock, valued at $18,110,950. The trade was a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Jillian Forusz sold 676 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total transaction of $327,839.72. Following the completion of the transaction, the chief accounting officer now owns 2,715 shares in the company, valued at approximately $1,316,693.55. This represents a 19.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,763 shares of company stock worth $893,665. Company insiders own 0.15% of the company’s stock.

About Adobe

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.